Angola’s net foreign reserves total US$30.71 billion in May

6 July 2012

Angola’s net foreign reserves totalled US$30.71 billion at the end of May, which was a rise of 7.6 percent against the US$28.54 billion posted in the previous month, said the National Bank of Angola.

At the end of the first quarter, Angola’s net foreign reserves totalled US$26.76 billion, which was a rise of 0.74 percent against the previous month and 2.62 percent compared to December 2011.

Compared to the first quarter of 2011, at the end of March Angola’s foreign reserves had increased by around 49.63 percent, or US$8.87 billion.

The Angolan central bank said that the increase in foreign reserves had been due to a rise in oil prices. (macauhub)

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